Netflix recently released their plans to build one of the largest fully-integrated production facilities in the world in Fort Monmouth, New Jersey. Netflix bid $55 million for the 293 acres at the former military base, close to the appraised value, according to Rajiv Dalal, Netflix’s director of content and studio affairs. On top of that, Netflix is going to invest roughly $850 million into the production hub, with plans to build 12 sound stages, ancillary production support and a backlot as well. They plan to shoot features, series, and scripted projects for the studios.
Dalal stated that, “I think we certainly needed an East Coast production hub. And given the talented crew base in New Jersey that have worked on our titles in New York, but live in New Jersey, the multiplicity of great scenic backdrops, the proximity to major metropolitan areas and the fact that we were able to get a large swath of land close to 300 acres. Those were key decision drivers.”
New jersey has been building up their tax credit program for film and television production, that was first introduced in 2018 and expanded in January of 2021. This new addition would add on to Netflix’s existing studios in Brooklyn, which they opened back in 2021, as well as other North American studios in Toronto, Atlanta, California, British Columbia, and New Mexico. Dalal stated, “We have a large enough slate to be able to utilize the stages elsewhere, but we’re certainly going to be heavily utilizing the East Coast production hub.”
Titles that will be filmed in the studios are still yet to be determined, since the project likely will not be completed until 2027. Since Netflix has received approval from the board, Gov. Murphy still has a veto period and then Netflix will have three to six months of due diligence and roughly a year of local approvals. Although Murphy already seems interested in the project, stating that the “transformative investment will serve as a cornerstone in our efforts to create a thriving industry from whole cloth.”
Once operational, Netflix estimates that it will support anywhere from 1,400 to 2,200 jobs annually and generate between $7.4 billion and $8.9 billion in output over the course of the next 20 years.
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